Azerbaijan, Baku, Feb. 1 / Trend A. Akhundov /
Azerbaijani life insurance company Pasa Heyat aims to expand its network of branches and representative offices in the country, head of the Risk Management Department Parviz Guliyev said at a press conference on Friday.
"We plan to open four branches and representative offices in the country by late 2013," he said. "These operations have been launched."
He added that the company plans to expand the network of insurance agents in each branch or representative office. One branch operates in Sumgait city.
Pasa Heyat Sıgorta is the most capitalised company amongst the life insurance companies in the country (Atesgah Heyat and Qala Heyat). It entered the market in February 2011 with a capital of seven million manat, but today its capital is 15.05 million manat.
Pasa Holding is the only shareholder and holder of the new company's shares.
The official exchange rate is 0, 7844 AZN/USD on Feb. 1.